Business owners are usually delighted to see their companies grow, but acknowledge that if the expansion comes too soon and at a very rapid pace, it could turn out to be a curse instead.
In a recent SME survey, one third of respondents said they worry that if their businesses grow beyond a certain pace it could affect product and service quality and lead to customer dissatisfaction.
IT support capability is also listed as a key concern, according to the survey by SMB World.
One third of companies interviewed said they had reservations as to whether their IT systems can cope with a much higher transaction volume or a more sophisticated business operation.
In addition, entrepreneurs cite the need to have sufficient skills and resources to manage big projects.
If they can’t manage growth properly, the potential damage to their brand or goodwill can be huge, they say.
Putting excessive strain on employees, which can lead to higher staff attrition, is another potential problem that could arise from too-fast business expansion.
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